South African police arrest 62 after violent protests

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Johannesburg, July 12 | The South African police said that they have arrested 62 people on Sunday in KwaZulu-Natal and Gauteng Province as people protested against the incarceration of former President Jacob Zuma.

Zuma started serving his 15 months jail for contempt of court from last Wednesday. People in his hometown KwaZulu-Natal started looting shops, burning trucks and blocking roads calling for his release, the Xinhua news agency reported.

The protests spread to Gauteng, where the economic centre Johannesburg and administrative capital city Pretoria located, on Saturday and Sunday.

In Johannesburg many people chanting slogans in support of Zuma marched in Johannesburg city centre calling for Zuma’s release. Shops closed and there was little movement in town.

“62 people have been arrested as the police continue to respond to opportunistic criminality emanating from violent protests over the weekend in KwaZulu-Natal and Gauteng province,” said Spokesperson for the National Joint Operational and Intelligence Structure (NatJOINTS) Col Brenda Muridili.

“The police are working closely with their respective local Metro police departments, have heightened visibility and remain on high alert in response to incidents of opportunistic criminality and violent protests in the two provinces over the weekend,” she added.

She stated that they arrested people who were looting businesses and barricading roads in Johannesburg’s Jeppe and Alexandra townships.

Muridili said that in another instance about 800 people attacked police, resulting in the shooting of police officers who have now received medical attention in hospital.

“A warning is issued to those circulating inflammatory messages, inciting violence and lawlessness, that they refrain from doing so. The possibility of criminal charges being instituted against such persons cannot be ruled out, particularly in the event of injury or death that may come as a result of any operational response by the security forces to these incidents of violence and opportunistic criminality,” she said.

Muridili said that they are investigating the death of a 40-year-old man who was shot in Johannesburg’s Bramley.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

On a weekly expiry day, Nifty opened on positive note and have a dip to make an intraday low at 15367.50 level but showed bounce back moment as managed to close at 15556.65 level with a gain of 143 points. Bank Nifty closed the session at 33135 level with a gain of 289.70 points. 45 Out of Nifty 50 ended in green which suggest broad based buying.

All the sectoral indices managed to close in green expect Energy while Nifty Auto was top gainer. Among Nifty Stock, MARUTI, EICHERMOT, HEROMOTOCO & M&M were the top gainers, While RELIANCE, COALINDIA, POWERGRID & GRASIM were the prima laggards. India VIX closed at 20.88 level with a loss of 1.97%. On Technical Front, The Nifty has formed bullish candle but faced resistance at 21 Four-Hourly Moving Average i.e., 15647 which suggest crossing above the same can show more upside rally.

Nifty has been trading in range of 15200-15700 level while breaching either side can suggest further direction of breakouts. Nifty has given above 50-Hourly Moving Averages which indicate it can show upside moment in the counter. On the Nifty OI Data, On the call side ,the highest OI witnessed at 16000 level while on the put side was at 15500 Niftg level followed by 15300 levels. The momentum indicators Stochastic is trading with a positive crossover on a daily chart which suggest northward journey in the Nifty.

The Nifty may find support around 15200 levels while on the upside 15700 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 32300 levels while resistance at 33800 levels.

Overall, Sector specific momentum has been observed, crossing above 15700 Nifty can show more upside rally.

Market entering into buy on dips pattern.

Palak Kothari
Senior Technical Analyst
Choice Broking

Source: Choice India

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